On January 10, 2024, Bothell Corporation for the first time acquired some equity securities. Bothell appropriately uses the fair value method to account for the investments. At March 31, when Bothell prepares its first quarter financial statements, the following information about the acquired securities is available:
securities cost market
A $44,000 $40.000
B $24,000 $18,000
C $31,000 $34,000
prepare the journal entries to record the acquisition in january and valuation at the end of the first quarter of 2024
assume that on june 30,2024 the company still has this same fortofolio. the market value of A is $52,000, B is $20,000 and C is $40,000. what journal entry ,if any should be prepared at the end of the second quarter?
